Loretta Sanchez: Meeting needs of today's college student

THE COST OF STUDENT DEBT

In a 2013 study entitled "Life Delayed," American Student Assistance noted the profound impact of of student debt on the "lives and spending habits of young Americans." The majority of those surveyed, 75 percent, "indicated that student loan debt affected their decision or ability to purchase a home." The survey also noted that 73 percent have put off saving for retirement or investment.

Source: American Student Assistance

In my family, going to college was not an option – it was non-negotiable. As the daughter of immigrants who never finished school, my parents instilled in me that to make it in America you had to get a good education. So I put myself through Chapman University with Pell Grant awards, loans and a scholarship from the United Food and Commercial Workers. I’m what they call a “public-private partnership.”

Putting myself through college was hard, but not as hard as it is for today’s student. It is important to remember that today’s student is not necessarily full-time, living in a dorm room or between the ages of 18 and 22.

Today’s student is struggling to finish in four years because they have a full-time job or a child to care for. Today’s student has nearly $30,000 in student loan debt. Today’s student needs our state and federal governments to recognize the importance of helping them get their diplomas.

Demand for degrees from our state schools has never been higher. Since the 1980s, Cal State enrollment has increased 50 percent, and UC enrollment has increased 90 percent. But instead of helping our students succeed, we spend less per student today than we have in over 30 years.

While tuition costs soar, state and community college budgets are slashed. Grants and scholarships are few and far between. It’s incredible to think that when the Pell Grant was created in 1972, it covered the full cost of college.

Next year’s maximum Pell award will cover just one-third of the cost of a public four-year college . All of this means that today’s student is left fighting to make ends meet now while being saddled with debt for the future.

That is why I introduced H.R. 4902, the Middle Class CHANCE Act, to restore the strength and length of the Pell Grant for today’s student. We can no longer drain the American dream of accessing quality and affordable higher education; we must expand opportunity for everyone.

My bill will combat increasing college costs by 1) dramatically increasing the national Pell Grant award to $8,900 from $5,730, 2) restoring year-round Pell Grants, and 3) allowing Pell Grant recipients to use the awards for 15 semesters instead of the current 12 semesters.

My bill is one piece of the puzzle. Our nation’s student-loan debt stands at over $1.2 trillion, and student loan interest rates recently increased, from 3.86 percent to 4.66 percent.

Despite these startling figures, Senate Republicans continue to filibuster vital student loan refinancing legislation, and House Republicans have blocked any student loan legislation altogether. We cannot rebuild our economy while we weigh down the next generation with debt, and my colleagues and I will continue to push for sensible student loan solutions.

I’m not sure I could get through school today like I did 30 years ago, and, for a determined girl like me, that’s saying something. We need to make sure every one of today’s students is given the chance to succeed. We need to make access to higher education a non-negotiable. With the president’s recent executive action to make college more affordable and with the Higher Education Act reauthorization just around the corner, Congress needs to take up my Middle Class CHANCE Act because a college degree should help build dreams, not debt.

Democratic Rep. Loretta Sanchez serves the 46th Congressional District, which includes the cities of Anaheim, Santa Ana and Garden Grove.

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